TMI Blog2021 (9) TMI 789X X X X Extracts X X X X X X X X Extracts X X X X ..... and advances. It has also some finance costs during the period under default. Further, the company had spent certain amounts on employee benefits. This prima facie suggests that during the relevant time the company had people in its employment and was carrying its business activities - the details prima facie suggest that the company has carrying on its business activities and is a going concern. The appellant submitted that the company will comply with all the statutory obligations. And prayed that the Registrar of Companies, Odisha may be directed to restore the company's name in the register. The contention of the appellant is accepted that the company was a going concern when its name was struck off. Therefore, in the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was not doing its business. 2. As per the averments, the company is a private limited company, limited by shares under the provisions of the Companies Act, 1956. The authorised share capital of the company is ₹ 20,00,000 (rupees twenty lakhs only) divided into 20,000 (twenty thousand) equity shares of ₹ 100 (rupees hundred) each and the issued subscribed and paid-up capital of the company is ₹ 11,70,000 (rupees eleven lakhs seventy thousand only) divided into 11,700 (eleven thousand seven hundred) number of equity shares of ₹ 100 (rupees one hundred each). During the time when the company was struck off, it was managed by two directors, namely, Mr. Prakash Dadhichi DIN : 02300024) and Mr. Kishore Sharma (DIN : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. The petitioner avers that the accounts were properly prepared and audited by the statutory auditors in time. All the balance-sheets along with all its reports were duly adopted in the annual general meetings. The company was ignorant of the fact that the annual accounts are not filed with the Registrar of Companies since balance-sheets were duly prepared. The promoters have also promoted another company which is in iron and steel manufacturing sector. However, because of ups and down in the steel sector, they could not follow up in time whether the Registrar of Companies filing for the struck off company has been done or not. They have admitted that it was shear negligence on the part of the company that they could not monitor filing of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tte and newspaper for the information of the general public regarding strike off the name of the said company in form No. STK-5/5A. Finally, after the expiry of the time mentioned in the above notice the Registrar struck off the name of aforesaid company from his Register and published the same in form No. STK-7 in the Official Gazette dated July 22, 2017 and on the publication of such notice in the Official Gazette, the company stood dissolved on and from June 21, 2017. The undertaking made by the petitioner in its appeal/petition may be considered on its merit on the basis of documentary evidence produced by the petitioner in support of the submissions made therein. Further, the petitioner may be put to strict proof of contention mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Profit and loss for the year in (Rs.) 59,24,749 31st March-2009 85,090.39 39,19,428 31st March-2010 17,905.88 46,09,860 31st March-2011 21,143.73 65,85,270 31st March-2012 23,709.00 1,44,84,751 31st March-2013 28,402.00 95,20,864 31st March-2014 31,996.00 96,13,193 31st March-2015 32,946.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the appellant. The appellant submitted that the company will comply with all the statutory obligations. And prayed that the Registrar of Companies, Odisha may be directed to restore the company's name in the register. We accept the contention of the appellant that the company was a going concern when its name was struck off. Therefore, in the facts and circumstances of the case and the documents/details on record, we accept the request of the appellant and direct the Registrar of Companies, Odisha to restore name of the company in register by following order : Order (i) The Registrar of Companies, the respondent herein, is ordered to restore the original status of the appellant-company, i. e., Dadhichi Logis tics Solutions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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